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Relocation Deal Could Mark the Beginning of a Trend in the Local Market

WHITE PLAINS-Reuters America Information Management Group's plans to relocate its Stamford, CT operations to 40,000 sf at 44 South Broadway lend credence to claims that Westchester County's rental rates were aggressively competitive versus those in Fairfield County.

By John Jordan | Updated on February 13, 2001

WHITE PLAINS-In a major relocation deal within the Westchester-Fairfield County market, Reuters America Information Management Group will move its operations from 2 Stamford Plaza in Stamford, CT to Westchester One at 44 South Broadway here in a few months. The broker representing the tenant says a major factor in the relocation is lower office rental costs in Westchester as compared to Fairfield County.

Local businesspeople here have long suggested Westchester stood to gain from its lower rental rates in this regional market. Now with the economy looking sour and companies looking to cut costs, it seems that this deal could mark the beginning of a trend here.

At press time it is not known if Reuters received any financial incentives from Westchester County or New York State to cross the border. Salvatore Carrera, director of Westchester County’s Office of Economic Development, could not be reached for comment at press time.

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